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VAT

VAT dropped from carbon credits

The government has acted to prevent the risk of fraud by removing VAT from carbon credits.

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Businesses paying back deferred taxes

Businesses that delayed settling their tax bills under a scheme introduced by the government to help those struggling in the economic downturn are paying back the much of the money owed.

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Charities get mobile phone VAT break

Charities are all set to benefit from a tax break on any donation made by text message.

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VAT rise still looks set for end of December

Treasury plans to increase the rate of VAT to 17.5 per cent at the end of the year appear certain to go ahead.

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Billions earmarked for VAT overpayment claims

HM Revenue and Customs (HMRC) is facing £8.5 billion in claims for overpaid VAT.

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'Occupation' of a building for purposes of disapplying option to tax

Under certain circumstances, an option to tax is disapplied if the person occupying the relevant property does not intend to use it predominantly for taxable purposes.

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The VAT treatment of deposits for land on which dwellings will be built

Where dwellings are to be built on bare land, it is common practice for completion to take place once a meaningful start has been made on the construction.

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Changes to policy on zero-rating VAT for charitable use

The VAT extra statutory concession 3.29, which allows charities to ignore small amounts of non-qualifying use (up to 10 per cent) when deciding whether the construction of a new building qualifies for zero-rating, is being phased out.

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Changes to bank account details for VAT payments

HM Revenue and Customs (HMRC) has announced that, as from 8 July, there has been a change to the bank account details for paying VAT.

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Calls for VAT rise to be pushed back

Businesses are unhappy over government plans to stick to its original timetable on the return to the old standard rate of VAT.

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